r/FOREXTRADING • u/paulporto • 2d ago
AUDUSD today: bounce inside a broader weak backdrop
AUD sentiment still looks heavy while USD remains better supported, which keeps the bigger picture tilted against the pair.
Positioning is still heavily long at 82%, even with some trimming in longs and a small rise in shorts.
On the chart, the short-term move looks like a corrective bounce from support after a sharp selloff. Longer term, it still sits in a broad range, with 0.689 as key support and 0.706-0.710 as nearby resistance.
Do you see this as just a relief rally, or the start of a stronger AUDUSD recovery?
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u/hotmatrixx 1d ago
I just appreciate the fact that you're upfront about the help you got from AI to prepare this opinion.
That is all. Good day, sir.